A University of Cambridge spinout which produces medical treatments for horses and livestock will this week announce a near-£5m fundraising from a syndicate of high-profile shareholders.
Sky News understands that NoBACZ Healthcare has secured the capital from backers led by The Yield Lab, a specialist investor in European agriculture and food technology businesses.
Adjuvo, the angel investor network, ACF Investors, the University of Cambridge, Parkwalk, the FSE Group and Cambridge Enterprise Ventures also participated in the £4.8m round.
NoBACZ has developed a range of so-called ‘liquid bandage’ technology for farm animals, which aims to usurp the use of antibiotics and cloth bandages, which can often be contaminated in agricultural environments.
The company was founded by Dr Jonathan Powell and Dr Nuno Faria, whose research at Cambridge’s Department of Veterinary Medicine examined how the body naturally builds and utilises mineral structures for its own benefit.
Their product was initially developed to treat digital dermatitis, which affects a quarter of cows.
Dr Powell, NoBACZ’s chief executive, said: “We founded NoBACZ Healthcare with the goal of transforming healthcare solutions for a more sustainable future whilst reducing antibiotic use.
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“This new funding will fuel our expansion as we broaden our global product reach, launch our new range of products for the equine industry and continue to develop innovative veterinary healthcare solutions.”
He added that in addition to its pipeline of veterinary products, the company was “starting to define our human product opportunity”.
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Mark Foster-Brown, CEO of Adjuvo, said: “For too long, topical antibiotics and bandages have offered inadequate solutions for animal wound care.
“NoBACZ’s patented platform technology sets a new benchmark, delivering ground-breaking results while aligning with Adjuvo’s mission to back innovation in underserved sectors.”
